What are the sources of value-added and non-value-added work

Assignment Help Financial Management
Reference no: EM131950466

Assignment

The following data consists of the actual time used and potential (the best time possible for this review process)to complete each step in the review process. The actual times are based on the review of 30 projects. The potential times are subjective engineering judgment estimates.

Table: Basic Data Review for Construction Project Equipment Arrangement

 

 

 

Cycle Time (hours)

 

Step

Description

Actual

Potential

Difference

1

Read basic data package

4

4

-

2

Write, type, proof, sign, copy, and distribute cover letter

21.9

0.5

21.4

3

Queue

40

0

40

4

Lead engineer calls key people to schedule meeting

4

0.25

3.75

5

Write, type, proof, sign, copy, and distribute confirmation letter

25.4

2.1

23.3

6

Hold meeting; develop path forward and concerns

4

4

-

7

Project leader and specialist develop missing information

12

12

-

8

Determine plant preferred vendors

12

12

-

9

Review notes from meeting

12

12

-

10

Resolve open issues

106

104

2

11

Write, type, proof, sign, copy, and distribute basic data acceptance letter

26.5

0.25

26.25

 

Totals

267.8

151.1

116.7

Use the data in thetable above and answer the following questions in the space provided below:

1. What are the sources of value-added and non-value-added work in this process?

2. Where are the main opportunities to improve the cycle time of this process, with respect to both actual time used and the potential best times? What strategy would you use?

3. Step 10:Resolve Open Issues required 104 hours (potential) versus 106 hours (actual). Is there an OFI here? Why or why not? If so, how would you attack it?

4. What do you think are the most difficult critical issues to deal with when designing a sound cycle time study such as this one?

Reference no: EM131950466

Questions Cloud

Identifying opportunity for improvements : Determine at least two (2) challenges in identifying Opportunity for Improvements (OFIs).
Increase the partnership tax capital account : Which of the following does not increase the partnership's tax capital account?
Allow the user to run the program as many times : Have main display "is a prime number" or "is not a prime number". Allow the user to run the program as many times as is desired.
Analyzinga current event using social psychological theories : You are to write a paper (approximately 5-6 pages double spaced) analyzinga current event using social psychological theories that illustrate the concepts.
What are the sources of value-added and non-value-added work : Where are the main opportunities to improve the cycle time of this process, with respect to both actual time used and the potential best times?
Main program and output results : Pass the necessary parameters to the appropriate function then return the volume to the main program and output results.
Compute the bcnf decomposition of a given relation : Implement the algorithm given in class to compute the BCNF decomposition of a given relation and a set of functional dependencies.
Why do you think the mutual fund industry : Why do you think the mutual fund industry has experienced a decline in front-end sales loads since the introduction of 12b-1 fees?
Briefly outline the plot of the show movie or book : Briefly outline the plot of the show, movie or book and then relate the characters actions, decisions, etc. to any or all of the theories. Get it?

Reviews

Write a Review

Financial Management Questions & Answers

  The market price of a security

The market price of a security is $70. Its expected rate of return is 12%. The risk-free rate is 7%, and the market risk premium is 7%. What will the market price of the security be if its beta doubles (and all other variables remain unchanged)? Assu..

  What was Iris Incs earnings before interest and taxes

What was Iris Inc.'s earnings before interest and taxes (EBIT)?

  What is the current price of bond

What is the current price of a bond with a $1,000 face value, a 7 year remaining maturity,

  Retirement to fund these planned withdrawals

You are trying to decide how much money you will need at retirement. How much will you need at retirement to fund these planned withdrawals?

  Beta and expected return

Stock Y has a beta of .9 and an expected return of 12.6 percent.

  What is the monthly payment and what is interest will pay

What is the monthly payment and what is interest you will pay? Round both answers to 2 decimal places.

  Whats value of stock that is expected to pay dividend

What’s a value of a stock that is expected to pay a dividend of $2, starting a year from now, and then increase the dividend at a rate of 6% per year, indefinitely? Given the expected rate of return is 8%.

  What is the spot rate for the british pound

What is the spot rate for the British pound (GBP) on Wednesday in terms of the U.S. dollar (USD)? Or, from the U.S. perspective, what is the direct quote on pounds?)

  What are the terminal cash flows from the sale of the asset

The Cosmo K Manufacturing Group currently has sales of $1,400,000 per year. What are the terminal cash flows from the sale of the asset at the end of 5 years?

  Find the value of a spot starting infinite stream

Floating rate annuity -  find the value of a spot-starting infinite stream of libor payments, that is, when t = T0 = 0 and as n → ∞.

  Equired rate of return on projects of this risk class

Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is 8 percent, and that the maximum allowable payback and discounted payback statistic for the pro..

  Straight-line method to calculate book depreciation-pays tax

Johnson Family Care Inc. is a large ambulatory care center that provides comprehensive 24-hour primary and specialty care to a large suburban population in Pennsylvania.  Johnson uses a straight-line method to calculate book depreciation and pays tax..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd